-The Horizontal Short-Run Aggregate Supply (SRAS1)expresses the Idea That

question 66

Multiple Choice

-The horizontal short-run aggregate supply (SRAS1) expresses the idea that

• A) the price level is dependent on the output level in the short run.
• B) the output level is independent of the price level in the short run.
• C) the price level is independent of the output level in the long run.
• D) potential output is fixed in the short run.
• E) firms will supply the output demanded at the fixed price level in the short run.

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Definitions:

Federal Statute

A law enacted by the legislative branch of the federal government of the United States.

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